New Delhi, Oct. 13 -- Fragmented digital infrastructure across countries could pose significant risks to global financial stability, the Bretton Woods Committee has warned, calling for common standards to connect national digital systems and enable them to work seamlessly within and across borders.

The Bretton Woods Committee (BWC) is a non-profit organisation that promotes global financial cooperation.

In its report the committee said countries risk building separate, incompatible digital systems instead of developing open infrastructure that can support cross-border economic activity.

"For a country to benefit though, each foundational digital rail-a platform or protocol that moves data and credentials at near zero marginal cost such...